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Hi can I check if my 4rm HDB is fully paid and I intend to buy a new EC. I have the 5% cash downpayment for the option to purchase. Understand that the remaining 15% can be paid in cash or CPF. But i dont have enuff cash or cpf now. can I get a bridging loan for the 15% to wait for the EC to TOP before I sell off my flat? please help..
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2 Answers

Lyna Song
Replied
Hi Mr Jama;

Unfortunately not,for bridging loan,you will need to sell off your property now before bank can grant you the bridging loan as the tenure for bridging loan is usually not more than 6 months only.I have a few ECs that are just launched recently and a few more in the pipeline.Please contact me for more info.Thanks

Regards;
Lyna ERA
developer's sales team of Waterbay
 96238442 
lynasong@hotmail.com Read More
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YT Tan (陈永达)
Replied
Morning Mr Jama,

It is not possible to get a bridging loan as had been mentioned by Lyna.

One alternative could be you sell off your house and apply for EC and staying at a rental unit while waiting for EC to TOP. This has been used by many of my clients before when they found that cashflow is tight for them.

You may want to consider it as EC is pretty attractive nowadays.

Feel free to contact me if you need any assistance. Will definitely be a great help to solve all your doubts.

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More
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